Not really, unless the MFA involves the same type of attestation involved in the process. TOTP is fine, and you can put it in your password manager to avoid phones, and can be done without consenting to any spying. And I don't really own the account anyway.
> use their physical cards
The premise of this discussion is these will get replaced by the hostile phone app, since the Europeans are too lazy to make a proper replacement.
> locking down infotainment systems
I don't agree with that either, but you can presumably buy a car without one, and you'd still be allowed to drive. What if the government says, you can't drive anymore UNLESS you use the locked down infotainment system and consent to all the ads/spying that comes with it?
In theory - of course, it shouldn't make it any harder for _me_ to login, it's just that in practice the friction is inevitable since it can't distinguish between me and someone else without it.
> You're still free to walk into their branches, or use their physical cards, if you prefer not use their limited selection of devices.
The point is that this freedom is going away. I'd absolutely want to use their physical cards (there are smartcards with e-ink displays which would be a great thing for confirming payments), but no, they're slowly taking this away, starting by limiting transfers done without their mobile app.
And _their_ mobile app needs to invade __my__ property by locking down the system. I understand this might be neccessary to ensure the UI can be trusted, but this shouldn't happen on my device as it restricts my ability to do completely unrelated things.